Brexit vote has cost Easyjet £40 million in four weeks

The boss of Easyjet has said that the U.K.’s vote to leave the European Union has already cost the airline £40 million.

Since the pound plummeted in the days after the vote, fuel, which the company pays for in U.S. dollars, has become more expensive, CEO Carolyn McCall told the BBC.

Some holidaymakers have also been put off traveling because of the increased costs abroad, she said.

The comments came as the airline company released its quarterly results, which show that it is earning less money per passenger.

Passenger numbers have risen to 20.2 million, but extreme weather, air traffic control strikes and terrorist attacks have contributed to a drop of almost 8 percent in “revenue per seat,” according to the report.

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I call BS.
Easyjet gets the majority of its money in Euros. If anything, pound devaluation should be good for them, but in fact their important exchange rate is EUR/$. besides, if they cannot manage a pound/euro/dollar business, edge and use money futures they should go out of business (but of course they can, they are just keeping their anti-brexit stance)

Posted on 7/21/16 | 3:18 PM CET

Anonymot

It’s easy for Ms McCall to blame it on Brexit, but she might do better blaming it on the terrorist activities in their geographic area.

Posted on 7/21/16 | 6:54 PM CET

dennisa

“Some holidaymakers have also been put off traveling because of the increased costs abroad”,

Some holidaymakers have also been put off traveling because of the increased terrorism risks, not mentioned in the article.